NEDA approves 41 projects this year

NEDA approves 41 projects this year | Daily Tribune

The National Economic and Development Authority (NEDA) approved 41 projects this year amounting to P878.3 billion.

Out of this total number, NEDA reported that 15 projects were approved in the most recent months and 26 projects are now being built.

“NEDA is committed to continuing the work we have started to attain our medium-term social and economic transformation goals,” NEDA Secretary Arsenio Balisacan said.

Last year, NEDA had green-lit 32 projects worth P1.44 trillion.

NEDA said major projects related to transportation it approved this year include the Mindanao Transport Connectivity Improvement Project which will benefit motorists and passengers traveling to Regions 10, 11 and 12.

This project under the Department of Public Works and Highways alone costs P37 billion.

Another is the Laguna Lakeshore Road Network Project-Phase 1 which will cut travel time from Taguig City in Metro Manila to Calamba City in the province of Laguna by 25 percent.

For air transport, NEDA approved the Rehabilitation of the Ninoy Aquino International Airport worth P170.6 billion, and the enhancement and expansion of the Bohol-Panglao International Airport and the Laguindingan International Airport.

As the country is located in the typhoon belt, NEDA also supported flood management and climate change adaptation projects amounting to over P12 billion.

These include the Flood Risk Improvement and Management Project for Cagayan De Oro River and the Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in the Low-Lying Areas of Pampanga Bay Project.

For digital connectivity, NEDA gave its approval for the Philippine Digital Infrastructure Project which requires funds amounting to P16.1 billion.

“This project will construct a public broadband infrastructure network to enhance broadband connectivity and bring high-speed internet connections to disadvantaged areas, thus creating more economic opportunities for Filipinos,” Balisacan said.

Moving forward, he said the government will continue to tap various financing options, such as the public-private partnership and official development assistance (ODA) from foreign governments and multilateral institutions, in building more infrastructure and social projects.

“NEDA will conduct the Development Partners’ Forum in 2025. Specifically, we want to strengthen the alignment of ODA to the Philippine Development Plan (PDP) 2023-2028 in terms of its objectives and the monitoring of their implementation,” Balisacan said.

The PDP aims to guide government agencies in crafting projects that will generate more jobs, upskill Filipino workers, improve environmental conditions, maintain affordable prices of goods and services, and make healthcare, education and financial services accessible.

According to the Public-Private Partnership (PPP) Center, there are still 174 PPP projects in the pipeline.